Most Popular Wallets
Before we go into this Ledger Nano X review properly, it’s important for us to discuss who this product is aimed at. This largely comes down to the type of wallet you’re after, with this being a hardware wallet.
That means it’s a physical device upon which your cryptocurrency and all the information relevant to it is stored. Vitally, it’s a cold storage device, so it’s not connected to the internet. The key security issue with cryptocurrencies and their storage is that no matter what safety measures are taken, there’s always security vulnerabilities online. The threats to your cryptocurrency are online and that means there can be no better protection against them than removing those assets from the internet entirely.
The alternative to this is a hot storage wallet. This is where crypto and Bitcoin wallets are stored online, often as part of crypto exchanges. Naturally, these cannot logically offer the same level of security, but are a great deal more practical. Generally, then, cold storage is viewed as more suitable for long-term storage, and storage of larger amounts, so it’s this suitability we’ll pay particular attention to in this Ledger wallet review.
Pros & Cons
Ledger Nano X: Pros & Cons
- World-class security
- Over 1,000 cryptocurrency options
- Cold storage Connects to mobile
- First-rate reputation
- Not the warmest of interfaces
Cryptocurrencies and Technology
One of the advantages hot wallets often have over cold wallets, which we didn’t mention earlier in this Ledger review, is they often accept more types of cryptocurrency. While this is often the case, the Ledger Nano X is absolutely exceptional in this regard, with little in the way of Ledger limits.
They have over 1,000 supported cryptocurrencies at the time of writing, including Bitcoin, Monero, Dogecoin, Bitcoin Cash, Zcoin, Ripple, Ethereum and many more of the best cryptocurrency to invest in. We usually aim to list them all in this part of our Ledger wallet review but the amount is so vast and can change so quickly, we’ve had to go for just a couple of examples. There’s not much more we can say about that: it’s simply an utterly exceptional collection, meaning this hardware option is suitable for pretty much any cryptocurrency needs.
From a technological point of view, Ledger is absolutely rock solid. They’re one of the biggest names in the industry and have the reliability to back that up. They can store 100 applications simultaneously, utilise Bluetooth, have state-of-the-art security elements that can also be found in the likes of credit cards and passports and yes, have the ability to store over 1,000 different cryptocurrencies. Importantly, this technology never exposes its private keys outside the device, meaning there’s no reason to ever be exposed. Excellent stuff.
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Usability & Store
The trade-off for such security excellence is you don’t get the practical benefits of hot wallets. This isn’t a criticism in our Ledger review, simply an acknowledgement of the reality of the medium. This isn’t a mistake, it’s a choice. That means there are extra steps than for other options.
However, beyond the logistical limitations, we think Ledger does an excellent job here. It’s worth pointing out that some have described the interface as cold but honestly, we don’t see it that way. It’s straightforward and to the point but practical. No need for a Ledger wallet promo code or any unexpected Ledger fees. And that’s what the focus should be for this kind of device.
Consider, in this part of our Ledger Nano X review, how easy it is to set up. All you need to do is set up a PIN code: choose a 4-8 digit pin code, toggle between the number and hit enter like a bike lock.
Next, you’ll get a seed phrase, which is 24 words that’ll be used to recover your funds should the device get lost or broken. This is absolutely vital for this kind of physical device, as it’s really the only obvious security flaw – human error. Because of its importance, Ledger makes you confirm the seed phrase and you cannot skip this part.
You can now connect to your mobile device, a huge jump in practicality from previous iterations. The Ledger Manager app makes the Ledger withdrawal process so simple. Once they’ve been paired, you can install apps based on the coins you wish to use and add accounts. That’s pretty much all there is to it. Like we said, it’s to the point, but it gets the job done, and that’s what Ledger is all about.
Security & Support
We’ve discussed the security features at length already in the Ledger wallet review, but just to recap, this is the defining selling point of the Ledger Nano X – and it’s one that manages to exceed expectations.
A cold storage option is always a high-security choice, but with features like a true random number generator for its private keys, the root of trust ensures a legitimate product. The end-user verification feature and a post-issuance capability over a secure channel even means that Ledger can update your device with even more security features, meaning you’re looking at one of the absolute best in the world for security.
If you have any questions about this or anything else covered in our Ledger review, you can contact customer support between 9am and 5pm CET to talk to the expert team. Our experience with them has been excellent and it’s clear they work with a knowledge and passion for what they do. We can’t speak for the experience of everyone, but ours was first-rate.
Device and Scope of Supply
One thing you don’t always see covered in other Ledger wallet reviews is the quality of the device itself. Well, there’s certainly more elaborate devices out there but we think the Ledger Nano X is sleek, stylish and sturdy, resembling a more reliable, upmarket pendrive, with a moveable cover. This part of our Ledger Nano X review is more subjective, but we think many will be pleased with the look of the hardware.
More important than that though is that this is a reliable piece of kit, looking much less likely to break down or have issues than many of its competitors. It’s also a hugely popular model, meaning that they are widely available and you shouldn’t have any issue getting hold of one.
We don’t really have any criticisms to share at the end of our Ledger review. Sure, some alternatives are a little more flashy, and some people will prefer that. But once again, the no-nonsense, straightforward approach of the Ledger Nano X is a choice, not a flaw. A lot of people love how focused the product is.
From a technical and practical standpoint, it’s pretty much flawless. It’s reliable, works great, has a ton of world-class security features, is simple to use, looks good, fits in your pocket, has literally over 1,000 cryptocurrencies to choose from and quite simply does its job as well as we could imagine. It’s an absolute triumph and a huge recommendation from our Ledger Nano X review.
You can also try these alternatives, which we prefer as you can also combine the wallet with a functional exchange.
Cryptocurrencies are highly volatile, be aware of the risks when trading them.